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It’s Past Time for a U.S. Federal Sovereign Wealth Fund Given the U.S. penchant for deficit spending, it is necessary to find other sources of revenue for the government of the United States. The United States currently has a debt of $27.4 trillion on its books.  The debt payments on the national debt of the United States for fiscal year 2020 was $522.77 billion. The budget for the United States in fiscal year 2020 was $4.829 trillion. This would have produced a budget deficit of $966 billion, but with the Covid-19 pandemic, the budget deficit ballooned to an estimated $3.7 trillion deficit for 2020. The Congressional Budget Office in November of 2019 estimated that the interest on the U.S. National Debt in 2028 would be $914 billion. These estimates on the interest payment on the national debt were done before the Covid-19 pandemic. The Congressional Budget Office has not yet published any changes to this estimation due to the Covid-19 pandemic.

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